A Analysis

Veritaseum Crowdsale Bounty Program

Veritaseum was built by leveraging disruption, distributive network effects and the power of the crowd. In continuing with this mantra, we’re sponsoring a bounty program for any and all Veritaseum supporters to earn VERI, the token that drives Veritaseum’s products and services.

Reward Structure:

Up to fifty thousand (50,000) Veritas (VERI) will be rewarded for participating in the following Bounty categories:

Bitcointalk Signatures and Avatar: 20%

Translation: 15%

Blog Posts: 20%

Twitter: 20%

Facebook: TBD

Reddit: TBD

Telegram: TBD

To earn VERI, simply accumulate points by the end of the VERI crowdsale (May 26, 2017). At the end of the crowdsale, points for each category will be added up and used to calculate the number of VERI you will receive. The number of VERI you will receive for a particular bounty category is proportional to the number of points you’ve earned in that category.

For example, if:

You have 1 point in the Bitcointalk signature/avatar program

There are a total of 200 people in the Bitcointalk signature/avatar program who have each earned 1 point

At the end of the crowdsale, there are 4,000 VERI allocated to Newsletter Subscription

Then you will earn 4,000 * 1 / 200 = 20 VERI, currently about $380 USD.

Bounty categories, tasks, and rewards

Note: Percentages below are based on a maximum of up to 50,000 initial VERI supply reserved from crowdsale

Bitcointalk Signatures and Avatar

One of the largest pools of VERI rewards, this requires you to add our official signatures and avatar to your Bitcointalk profile to earn VERI.

c) Participant needs to post more than 10 quality posts per week including at least 1 message on the Veritaseum crowdsale ANN Thread to qualify for the weekly points below. Spam or low quality posts that are removed by administrators will not count.

Jr. Member: 10 points / week

Member: 20 points / week

Full Member: 25 points / week

Sr. Member: 35 points / week

Hero/Legendary Member: 50 points / week

Avatar: 10 points / week

d) Spammers will be banned from the entire bounty program and will not receive any VERI

Write blog posts about Veritaseum to earn VERI. Topics can include, but not limited to, the crowdsale as well as current and future applications of Veritaseum. Research, analytical, and technical implementations and applications are of particular use. We will be releasing proprietary research that you can base your content off of.

Veritaseum Token Tutorial

Veritaseum is moving it's P2P Capital Markets platform to Ethereum. In order to use anything on the Ethereum network a person needs to have an Ethereum account. The easiest way to do this, is with MyEtherWallet

Generate an Ethereum Account

Step 1

Click on Generate Wallet and enter a good password. You will always be able to regenerate the same account from the same password.

Click download and save the json file BUT keep this file safe and private. Any person who gets their hands on this file can now access your account, so store it safely.

Open the file and look at ciphertext. This value is your private key. This private key is the part that MUST be kept secret.

Copy this ciphertext/private key into memory and go to the View Wallet Info tab at the top of the page.

Select the Private Key radio button and paste your private key into the box. Click Unlock.

Now you can access your Ethereum account! It is here that you will find your Ethereum address, view the balance that this account has in it, view any tokens that it has, and other interesting things also.

Get Ether

As you can see, new accounts do not hold any Ether and you will have to get some.

Click on the Swap tab at the top of the page to exchange your bitcoins for Ether. Alternatively you may use ShapeShift. Be aware that this method is more expensive than sourcing Eth of exchanging it through an established token exchange, ie. Poloniex or Coinbase.

Exchange for VERI Tokens

Once you have some Ether, you are ready to exchange those Ether for Veritaseum Tokens! One VERI Token costs 0.03333333333 Ether, so for one Ether you get 30 VERI Tokens!

The ICO crowdfunding stage is from 2017 April 25th 9:30 EST (14:30 UTC) and lasts for 31 days. There is even a 20% discount for tokens purchased on day one (after the start), a 10% discount for tokens purchased on day two (after the start), and every consecutive day the discounted rate will reduce by 1% per day until the normal price is reached (day 12)!

The VeritaseumToken smart contract is an Ethereum ERC20 compliant token, which means that you can exchange VERI tokens on any Ethereum based exchange.

If the site asks you again, then enter your private key again and Unlock.

Click WRITE

To exchange Ether for VERI tokens you simply have to send the amount of Ether you wish to convert to VERI tokens, to the TokenPurchase smart contract. The smart contract will automatically allocate your tokens to your Ethereum address.

Increase the Gas Limit to about 80,000 and Click Generate Transaction

Congratulations, you now have VERI tokens!

Next you will want to go to your Ethereum account and see your VERI tokens. Click on the View Wallet Info tab and enter your private key again, if the site asks you for it.

Click Add Custom Token and enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Address box, VERI into the Token Symbol box, and 18 into the Decimals box and Save

You will now be able to see VERI tokens for any and each Ethereum account that you may have.

Use VeritaseumToken smart contract and Tokens

Once you have Veritaseum Tokens you can do several things with it. Since this is an ERC20 compliant token you can basically exchange VERI tokens on any Ethereum exchange, and there are several. You can exchange them for other tokens, or sell them back to Ether at a later stage.

To use them on MyEtherWallet, click on Send Ether & Tokens tab. Enter your private key and Unlock.

Now, enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Contract Address box.

The Veritaseum token offering - Veritas - is now available for sale (as of today, 9:30 am, eastern standard time - 4/25/2017). If you are already familiar with Veritaseum and our tokens offering, you can proceed directly to our purchase instructions (by downloading and/or purchasing our tokens, you assent to our Term and Conditions and Purchase Agreement). Click here to proceed to the Veritas 2017 Token Purchase: Step-by-Step Tutorial.

A long form, interactive presentation can be found here in the form of a virtual roadshow - Informational Presentation. To get the most out of such a dense offering, be sure to make use of the interactive table of contents on the 2nd slide, and please click through all of the videos, links to download the various documents and take your time to read and understand what Veritas is and is not, and what Veritaseum is and plans to be.

A last minute Q&A and AMA (ask me anything) video on the Veritas sale can be found here.

Veritaseum Token Tutorial

In order to use anything on the Ethereum network a person needs to have an Ethereum account. The easiest way to do this, is with MyEtherWallet

Generate an Ethereum Account

Step 1

Click on Generate Wallet and enter a good password. You will always be able to regenerate the same account from the same password.

Click download and save the json file BUT keep this file safe and private. Any person who gets their hands on this file can now access your account, so store it safely.

Open the file and look at ciphertext. This value is your private key. This private key is the part that MUST be kept secret.

Copy this ciphertext/private key into memory and go to the View Wallet Info tab at the top of the page.

Select the Private Key radio button and paste your private key into the box. Click Unlock.

Now you can access your Ethereum account! It is here that you will find your Ethereum address, view the balance that this account has in it, view any tokens that it has, and other interesting things also.

Get Ether

As you can see, new accounts do not hold any Ether and you will have to get some.

Click on the Swap tab at the top of the page to exchange your bitcoins for Ether. Alternatively you may use ShapeShift. Be aware that this method is more expensive than sourcing Eth of exchanging it through an established token exchange, ie. Poloniex or Coinbase.

Exchange for VERI Tokens

Once you have some Ether, you are ready to exchange those Ether for Veritaseum Tokens! One VERI Token costs 0.03333333333 Ether, so for one Ether you get 30 VERI Tokens!

The ICO crowdfunding stage is from 2017 April 25th 9:30 EST (14:30 UTC) and lasts for 31 days. There is even a 20% discount for tokens purchased on day one (after the start), a 10% discount for tokens purchased on day two (after the start), and every consecutive day the discounted rate will reduce by 1% per day until the normal price is reached (day 12)!

The VeritaseumToken smart contract is an Ethereum ERC20 compliant token, which means that you can exchange VERI tokens on any Ethereum based exchange.

If the site asks you again, then enter your private key again and Unlock.

Click WRITE

To exchange Ether for VERI tokens you simply have to send the amount of Ether you wish to convert to VERI tokens, to the TokenPurchase smart contract. The smart contract will automatically allocate your tokens to your Ethereum address.

Increase the Gas Limit to about 80,000 and Click Generate Transaction

Congratulations, you now have VERI tokens!

Next you will want to go to your Ethereum account and see your VERI tokens. Click on the View Wallet Info tab and enter your private key again, if the site asks you for it.

Click Add Custom Token and enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Address box, VERI into the Token Symbol box, and 18 into the Decimals box and Save

You will now be able to see VERI tokens for any and each Ethereum account that you may have.

Use VeritaseumToken smart contract and Tokens

Once you have Veritaseum Tokens you can do several things with it. Since this is an ERC20 compliant token you can basically exchange VERI tokens on any Ethereum exchange, and there are several. You can exchange them for other tokens, or sell them back to Ether at a later stage.

To use them on MyEtherWallet, click on Send Ether & Tokens tab. Enter your private key and Unlock.

Now, enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Contract Address box.

The future of finance, ICO slated for April 25th, 2107 at US market open

The man that called Bear Stearns, Lehman, the real estate and EU sovereign debt crashes as well as mobile tech booms is now mobilizing his films blockchain technology to go head-to-head with the captains of global industry - Wall Street. Unlike the vast majority of blockchain tech start-ups that strive to improve upon the business processes within the leaders of the finance , Reggie Middleton’s Veritaseum seeks to disintermediate said leaders in totality, thereby releasing an unprecedented cascading wave of value currently tied up in excessive fees, commissions and economic ents.

This disintermediation is accomplished by using a DAO (digital autonomous organization consisting purely of distributed software that lives on no single computer or server) which is essentially a smart contract (autonomous computer code, analogous to a legal or social contract that produces y or z result after X input, contingent upon the input).

Veritaseum’s ICODAO will have the ability to accept requests for Eth from prospective ICO issuers, evaluate said requests and if the requests past muster from the DAO’s perspective, then dig in deeper with due diligence and proprietary analysis to ascertain whether the offering will be participated in.

This occurs at a cost that is up to 90% cheaper than fund-like vehicles, meaning the ICODAO token holders (those who submitted Veritaseum’s Veritas tokens to the DAO) stand to benefit significantly more than those who may have invested in a fund with a similar gross return and risk profile, reference this complete illustration for more).

Reggie Middleton the Veritaseum team will support the ICODAO with analysis and development services. ICODAO takes robo-investing and brings it to a new, autonomous and significantly more paradigm shifting level, threatening the highest paid of professional financial investors - VCs and fund managers.

Veritaseum is planning its own ICO (initial coin offering) on April 25th, starting at the open of NY financial markets, through May 26th or as long as supply lasts. Click here for more information.

A hedge fund recently made news by securitizing its LP units as digital tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that should truly challenge the extant VCs right? Well, yes and no. You see, the tokenized thingy is cool and all, but it really doesn't take full advantage of the technology at hand. After all, 2.5% & 25% is a pretty steep fee. Veritaseum, in anticipation of its upcoming ICO (online road show and executive summary ), is prepping to launch what we call an ICODAO, and Distributed Autonomous Organization that collects Initial Coin Offerings. We are attempting to make this nearly completely autonomous, tested (don't think "TheDAO" debacle, and considerably cheaper than hedge funds that you see these days. Now, the ICODAO is not a hedge fund, or a fund of any kind. It's sort of an autonomous software entity, that uses our software token, "Veritas" to allow other entities and individuals to gain access to its accumulated exposures and services. Those services are basically the sniffing our and collecting the best of the best ICOs and token offerings available, and the exposures are the natural result of the collection and holding of said ICOs. A world class research team will supply the analytical chops (click here if you don't know, the same team that predicted Bear Stearns, Lehman, CRE and housing crash, Google, EU sovereign debt crisis, etc.). Back to that in a minute, let's look at what's happening in the world off(block)chain.

Yale University, one of the most-watched and best-performing college endowments, defended the fees it pays to external managers, saying in an annual investment report that a low-cost passive strategy would have “shortchanged’’ the Ivy League school’s students and faculty.

Fees for private equity and hedge fund managers, some of whom command 2 percent for management and 20 percent for performance, or even more, have become a heated topic. Berkshire Hathaway Inc.’s Warren Buffett and writer Malcolm Gladwell have taken public shots at the structure, and Gladwell specifically targeted Yale two years ago.

“What Buffett, Gladwell and other fee bashers miss is that the important metric is net returns, not gross fees,’’ the report said. “Weak or negative returns would result in low or no performance-related fees, but would be a terrible outcome for the university.’’

Yale’s investment strategy emphasizes long-term active management of equity-oriented, yet often illiquid assets, with more than half the fund in alternative investments. Almost a third of Yale’s 2016 allocation is in private equity, including 16.2 percent in venture capital and 14.7 percent in leveraged buyouts. About 22 percent is in absolute return with hedged-like strategies.

Yeah, I get it. Some guys are just better than others at investing, and they should be compensated commensurately. The question is, are there high performers that can be had for less than 27% of your profits? Let's take a look at a theoretical blockchain focused hedge fund vs the ICODAO - from a graphical perspective. Realize that the ICODAO charges a flat fee for its services. It's not a hedge fund, so there are no performance fees, but there are certain things that it may not be able to do on its own (yet), hence has to contract out for. The fees are to cover what it takes to make this autonomous entity self sustaining. It may very well be the case that these fees will shrink over time. We don't know, we're breaking new ground here. The hedge fund fees are self explanatory.

There you go. In a nutshell. Here's more...

Yes, the machines are taking over! Be sure to take part in the Veritaseum Token Offering, take part in the paradigm shift! Feel free to contact me directly with any queries via the contact form in the top menu.

Veritaseum is in the process of building peer-to-peer capital markets that enable financial and value market participants to deal directly with each other on a counterparty risk-free basis in lieu of going through middlemen, intermediaries and authoritative 3rd parties. We are holding an ICO for our Veritas tokens: the sole means of accessing the vehicles for the P2P economic markets. Here is an overview of the ICO details. The online Veritas presentation deck is rich with descriptions and links to other documentation and instructions on participating should you want to dig in deeper.

Executive Summary

Veritaseum is to be considered a gateway, or onramp to the P2P economy, akin to how a browser is used to access the World Wide Web, or a Bitcoin or Ethereum wallet is used to access those distributed ledger platforms.

The Veritaseum wallet interacts with Bitcoin and (soon) Ethereum blockhains and oracles to conditionally store and transfer value.

Veritaseum’s primary competition will initially be the sell side Wall Street status quo. Its aim is two-fold:

o provide autonomous asset management and investment vehicles (DAOs) at near zero profit margin, drawing assets from the more traditional players and then selling information, data and advisory services on top of it;

This near zero margin model will be replicated as a platform across the entire FIRE sector (finance, insurance and real estate), and then to sharing economy models (ie. Uber, AirBbB).

Veritas launched a long-running beta of its OTC value trading platform in 2013 and claims to not only be the first publicly viable P2P capital markets implementation of smart contracts technology but to to be the first to file for patent protection of the same.

Management pulled the Wallet from public access soon after the CFTC announced their regulation of bitcoin out of concerns of a requirement to register as an SEF (swap execution facility). Management’s goal is to be, and to remain, solely a software, software data services and advisory provider - and explicitly not a financial concern.

Veritaseum is moving to the Ethereum blockchain, while still retaining exposure to the Bitcoin token, in order to broaden its smart contract capabilities.

Product: What is Veritaseum Providing and How?

Veritaseum provides direct access to smart contract construction, execution and related products the non-technical individual. This direct access facilitates access to what Veritaseum management has coined the “Peer-to-Peer capital markets” - essentially an ever growing pool of users who transact value directly with each other instead of through intermediaries and middlemen, ie. Wall Street banks and brokerages. Veritaseum sees highly customizable and programmatic, direct, P2P transactions as the future of capital markets.

In addition, with the advent of low cost networking and geographically aware computing power (smart phones), blockchain tech and smart contracts, the concept of transferable value is easily expanded past real and financial assets to privacy, labor, data and a cornucopia of things none of us have through of yet.

All assets are stored client side, fully encrypted and are always in the complete control of the client (i.e., you, the individual user). Veritaseum doesn’t even store encrypted copies on its servers. Even in the event of a password compromise, bad actors must also locate the assets to access them. Something that is much easier to do on a centralized server (e.g., JP Morgan or Citibank) than a fully distributed system.

With Veritaseum, one can literally tweet an entire trade, or click a Friend on Facebook to take the other side of a short Goldman long Facebook trade, or transfer BTC linked to the price of gold through a text message. All without having to trust who’s on the other side! This level of friction free finance leads to the inevitable…

Pathogenic Finance - the Rise of Viral Financial Transactions

In the legacy financial world, in order to open a bank account, you have to present various forms of ID, go through multiple levels of KYC/AML, and wait a few days for funds to clear. In order to open a brokerage account, you have to fill out forms, answer questionnaires, meet minimum account balances and wait up to 3 days for funds to clear and 10 to 20 business days for assets to be transferred from account to account. All this is done to essentially remand control, custody, possession, and ownership of your funds and assets to a centralized hosted wallet (bank or brokerage) with oodles of balance sheet exposure to other centralized hosted wallets (banks, brokerages and exchanges). In return, you are given a promise not to plunder. With Veritaseum, you can create multiple accounts in under 60 seconds. You can start trading and transacting with others almost immediately, and in all cases no less than 60 minutes provided you have bitcoin on hand.

This ability to do practically everything your bank and brokerage offers through your browser (for dramatically less money) on practically any web-connected device with a modern browser, practically anywhere, with almost anyone, and without having to trust them inevitably leads to a massive proliferation of transactions. This proliferation will spread exponentially, not linearly, as more and more people realize they have been essentially freed from the “Matrix”.

·This is what AT&T was afraid of in 1915, causing them to miss out on roughly 7 billion “new” customer accounts, and potentially controlling the telecommunications space.

·This is what AOL was afraid of in the mid to late ‘90s, causing them to go from the Internet access market leader to an “also ran” in the space.

·This is what the banks and financial industry are fighting against now, likely to have no more success than their historical compatriots in other industries.

This growth and proliferation in peer-to-peer transactions, is truly viral. The outbreak will not be media or telecomm this time around, but the very meaning, application, and use of money and value itself! This is the dawn of “Pathogenic Finance”!

What is the Disruption of the Normal Physiology of the Legacy Finance Mechanism?

Autonomy vs. Heteronomy

A pathogen is an infectious agent that disrupts the normal physiology of an organism. In this case, the disease is a new cultural meme. Pathogenic finance is a concept discovered and coined by Reggie Middleton, Disruptor-in-Chief at Veritaseum. Veritaseum acts as a virion (infectious virus particle) for carrying new pathogeniccultural memes, ideas, and practices of finance that can be transmitted from one mind to another through writing, speech, rituals, or media. Regardless of what the meme is transmitted through, it is transmitted by… Veritaseum. It is analogous to a virus in that it self-replicates, mutates, and respond to selective pressures on organisms to evolve (i.e., changes in habitat, weather, food availability and type, etc.). Veritaseum, like its biological counterpart, can infect multiple forms found throughout multipleecosystems. Viruses are the most abundant type of biological entity. Being that Veritaseum now lives as a web page, it can live and multiply anywhere there’s an Internet connection and modern browser. Any geographic location, any device, any user. All it takes is a single Tweet, text, email, or drag and drop to get Veritaseum value transactions to spread and multiply.

Why is the Veritas token needed?

The Veritas token will act as the key and only gateway to access the contracts that build the P2P capital markets. The Veritas token is easily programmed (by the non-technical user) to take on the market exposure attributes of nearly any other financial or real asset or commodity that has a generally accepted and accessible data feed and/or price discovery. As such, Veritas also acts as the fuel to run the P2P capital market’s engines.

The Veritas ICO will be capped, guaranteeing the scarcity of Veritas, Negotiations are being made to have Veritas accepted off blockchain by legacy institutions.

The New Age, 21st Century Gold Rush: The Grab for Intellectual Property Rights in Smart Contract and Blockchain TechnologiesFirst things, first – let’s quantify the sum of money that is in question. Veritaseum’s platform deals in value transfer. That is not the same as securities, banking or even Wall Street industry. It is literally the exchange of things that are worth something. It is literally the largest potential market in existence. This is a page taken from our crowdfunding information deck.

Addressible market Putting this into perspective, that.s $16.35 of value for every basis point of market penetration. Five basis points of real penetration across markets will dramatically increase the demand and scarcity of Veritas.

Veritaseum doesn’t have to take over markets, it simply has to ensure reliable usage in a very small subsection of markets.

JP Morgan, Bank of America, Goldman Sachs and IBM are just a sampling of the some of the largest, most powerful and most influential companies that have rushed to file patents in this potentially unprecedented arena of profit. From a financial, technological and value perspective, it is literally the second coming of the Internet.The smart(er) money appears to have started filing financially focused cryptocurrency-related patent applications in the 1st and 2nd quarter of 2014.

Below you will find the Veritas digital road show - a slide presentation that goes through what Veritas is, what Veritaseum does, and why you should get involved. This presentation is interactive and chocked full of content. To get the most out of such a dense offering, be sure to make use of the interactive table of contents on the 2nd slide, and please click through all of the videos, links to download the various documents and take your time to read and understand what Veritas is and is not, and what Veritaseum is and plans to be.

Come back here on the 25th of April for more information and the links necessary to access our crowdsale and initial coin offering smart contracts, be ready to get started! In the meantime, come and find out why we're so excited about this... transformation of capital markets...

A long form, interactive presentation can be found here in the form of a virtual roadshow - Informational Presentation. To get the most out of such a dense offering, be sure to make use of the interactive table of contents on the 2nd slide, and please click through all of the videos, links to download the various documents and take your time to read and understand what Veritas is and is not, and what Veritaseum is and plans to be.

A last minute Q&A and AMA (ask me anything) video on the Veritas sale can be found here.

Informational Presentation: To get the most out of such a dense offering, be sure to make use of the interactive table of contents on the 2nd slide, and please click through all of the videos, links to download the various documents and take your time to read and understand what Veritas is and is not, and what Veritaseum is and plans to be.

Veritaseum Token Tutorial

In order to use anything on the Ethereum network a person needs to have an Ethereum account. The easiest way to do this, is with MyEtherWallet

Generate an Ethereum Account

Step 1

Click on Generate Wallet and enter a good password. You will always be able to regenerate the same account from the same password.

Click download and save the json file BUT keep this file safe and private. Any person who gets their hands on this file can now access your account, so store it safely.

Open the file and look at ciphertext. This value is your private key. This private key is the part that MUST be kept secret.

Copy this ciphertext/private key into memory and go to the View Wallet Info tab at the top of the page.

Select the Private Key radio button and paste your private key into the box. Click Unlock.

Now you can access your Ethereum account! It is here that you will find your Ethereum address, view the balance that this account has in it, view any tokens that it has, and other interesting things also.

Get Ether

As you can see, new accounts do not hold any Ether and you will have to get some.

Click on the Swap tab at the top of the page to exchange your bitcoins for Ether. Alternatively you may use ShapeShift. Be aware that this method is more expensive than sourcing Eth of exchanging it through an established token exchange, ie. Poloniex or Coinbase.

Exchange for VERI Tokens

Once you have some Ether, you are ready to exchange those Ether for Veritaseum Tokens! One VERI Token costs 0.03333333333 Ether, so for one Ether you get 30 VERI Tokens!

The ICO crowdfunding stage is from 2017 April 25th 9:30 EST (14:30 UTC) and lasts for 31 days. There is even a 20% discount for tokens purchased on day one (after the start), a 10% discount for tokens purchased on day two (after the start), and every consecutive day the discounted rate will reduce by 1% per day until the normal price is reached (day 12)!

The VeritaseumToken smart contract is an Ethereum ERC20 compliant token, which means that you can exchange VERI tokens on any Ethereum based exchange.

If the site asks you again, then enter your private key again and Unlock.

Click WRITE

To exchange Ether for VERI tokens you simply have to send the amount of Ether you wish to convert to VERI tokens, to the TokenPurchase smart contract. The smart contract will automatically allocate your tokens to your Ethereum address.

Increase the Gas Limit to about 80,000 and Click Generate Transaction

Congratulations, you now have VERI tokens!

Next you will want to go to your Ethereum account and see your VERI tokens. Click on the View Wallet Info tab and enter your private key again, if the site asks you for it.

Click Add Custom Token and enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Address box, VERI into the Token Symbol box, and 18 into the Decimals box and Save

You will now be able to see VERI tokens for any and each Ethereum account that you may have.

Use VeritaseumToken smart contract and Tokens

Once you have Veritaseum Tokens you can do several things with it. Since this is an ERC20 compliant token you can basically exchange VERI tokens on any Ethereum exchange, and there are several. You can exchange them for other tokens, or sell them back to Ether at a later stage.

To use them on MyEtherWallet, click on Send Ether & Tokens tab. Enter your private key and Unlock.

Now, enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Contract Address box.

A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim:

I've watched your video and gone through the slides. The exchange I "get". I think it has great potential. However, I don't understand the case for Veritas at all and I think many others will feel the same. You state that Veritas can be used to buy consulting and advisory services. OK, but what is the cost in Veritas? Will that change or will it be fixed? What is the advantage of using Veritas over cash to buy this information?

The cost will be our stated rates, and will fluctuate with the VeUSD exchange rate. The advantage of using Ve over cash is that our consulting and advisory services are a very scarce commodity (like most labor), although the research is much less so (as it can scale via platform). Thus, Veritas holders get priority. I want to make it perfectly clear that Veritas ICO is much, much more than mere research and advisory. Consider that the icing on the cake. The ability to redeem your Ve against us gives instant value. In addition, we have a working, beta product already developed (not quite production ready for the masses, but it has been running in the public doman for serveral years now). In addition, we also own our IP. Where some coin offerings only offer the promise of future development (as do we, to be sure), we also have something to offer in the here and now.

You also state that Veritas will be needed to gain access to various digital platforms. That sure sounds like a "fee" to me unless Veritas is free which is obviously not the case. So the whole innovation is free contracts that are not really free?

You are confusing ongoing management and administration fees (among other constant fees as well as sales fees) with needing the Ve token for access to the P2P Capital Markets. The digital asset pools will exist autonomously on the blockchain without a centralized manager to charge any fees for profit or rent seeking gain. Think of using ether to gain access to the Ethereum blockchain, or bitcoin to gain access to the Bitcoin blockchain. One could pose the argument that entering a smart contract on Ethereum or Bitcoin isn't free due to the cost of ether or BTC, but in all practicality those tokens are the denominating asset for their respective blockchains an contracts. The same will hold true for Veritaseum contracts although we will strive to be token agnostic. You will be able to gain liquidity (to some extent) to exchange tokens, and use various assets in our asset pools as long as you have Ve (Veritas) as the key to entrance.

More importantly, the fees that truly matter, that enable the multitude of multimillion dollar Wall Street bonuses and that eat up the vast majority of investor's capital, are ongoing management and administration fees. Reference this screen shot from slide 10 of the Veritas presentation.

As stated above, think of Veritas as Ethereum for finance, investment and interactive value exchange. The difference is that we will have rapid development templates for certain (and hopefully many) contracts that allow the lay person to quickly create, implement and execute their own smart contracts without the need for, or assistance of a developer, finance whiz or lawyer (although that does not mean that it wouldn't be a good idea to have specialized expertise on hand when dealing with certain transactions, hence Ve for advisory). In order for you to access the smart contract templates (or access the P2P Capital Markets with contracts you develop on your own), you will need Ve. This rapid contracting system exists already in the Veritaseum platform. See this contract that allows the purchase of Qualcomm equity exposure through the sale of Intel equity exposure, created by the filling in of a simple form.

With the assistance of the ICO, we can create more sophisticated forms with more flexibility, direct exposure to APIs, and pre-fabricated software pools of exposures to those seeking such through smart contract forms such as these. Also of importance, we can decentralize (or potentially fully distribute) the server, making the entire system more robust, and near anti-fragile.

Also, no disrespect intended, but what happens to Veritaseum and Veritas if you were (to be blunt), drop dead tomorrow? If any of bitcoins developers died, it would have zero effect on the price or utility of bitcoin. Veritas might as well be called Reggie Coin and it's pretty obvious what would happen to Reggie Coin in that scenario.

Veritaseum is not Reggie Middleton. It's my brainchild and I'm the (current, until we can get a better) spokesperson, but the skillset to develop such a platform has been over my head nearly since inception. Just measuring what we have now: patents pending, software engineering, financial engineering and analysis, and significant software development - takes a diverse team. We do need to build our team out significantly, which is one of the primary purposes for the ICO. Part and parcel to that buildout will be the hiring of deep and experienced management that will form a healthy chain of succession should anything happen to any one of us - or even several of us.

In addition, we will open source the token-based asset pools and oversee its development with the community. We have no desire to control this. As you may recall from the introductory video, our goal is to significantly and dramatically democratize the finance and investment space. That means access for everyone and anyone, anywhere. Think of how dramatic the change in the media business was with the introduction of the Internet and blogs. Now, everyone and anyone could potentially create content that could nearly instantaneously reach an audience of millions around the world, in a matter of minutes. Did this destroy the media business? No! It expanded it and forced it into the next century, the next paradigm. We're looking to do the exact same thing to Wall Street!

I hope you'll post some material explaining the use case and the value proposition of Veritas. Thanks.

See the graphic below to see the doors that Verias (Ve) is to serve as the key to open.

The Veritas deal sheet is now available for download, which packs all the information about Veirtas in a signle page. A step by step guide to purchasing Veritas can be downloaded here.

The SEC's problem with Gemini's market reach is easily rectified by thier not trying to be so vertically stack and sharing liquidity with other exchanges - something that will likely have to happen anyway. As you can see, bitcoin exchange trading in its totality, represents a very small portion of bitcoin trading.

Most BTC trades are P2P and/or OTC. Lest the SEC complain about that, real estate is handled the same way (and unregulated) yet there are plenty of real estate ETFs. Now, despite the fact that most BTC is traded OTC, you can still buy your BTC at or close to exchange prices. Yes, a large purchase may create some slippage, gaps and spreads, but that is the same nature of any thinly traded market - and BTC is much more liquid than most - again, referencing the real estate market. No market maker in commercial real estate can be assured he can pick up office building or condo units at a certain price or spread, or even the entire complex.

The fact that Lex is comparing Bitcoin to cannabis shows a material misunderstanding of what bitcoin is. Silicon Valley gets it, which is why Microsoft, IBM, et. al. are jumping on board (bitcoin is more akin to the Internet than it is to weed), but the finance guys in the east are still behind the curve. Unfortunately, it appears the finance guys in the east don't even understand the financial portions of Bitcoin. Reference my educational articles from the recent past. After reading what is essentially Fake News about Bitcoin from Financial Times, London Business School and Credit Suisse, I have created an easy to understand metric that allows anyone to compare the risks and rewards of Bitcoin to basically any currency, commodity, stock or asset class.

Now, taking into consideration the (properly) risk-adjusted reward of bitcoin relative to most major asset classes, one can easily understand why smart institutional investors would want some exposure - hence the rush to build ETFs. Take a look at what will happen to bitcoin prices if such ETFs were to be approved.

You see, the introduction of even a small ETF will set the Bitcoin platform on FIRE!

More...

A little less than 4 months ago we released a lesson to determine whether the stock was under or overvalued (reference

Introduction to Fundamental Stock Valuation). In this lesson we demonstrated our methods on the sneaker company Adidas and the ADR, ADDYY. We predicted that adidas was around 20% overvalued. Almost 4 months after we came to that conclusion adidas plummeted 17% from the time we released our data, while the German and US markets stayed relatively unchanged. Since 1926 till 2011 the average annual return of the stock market was 11%. A short position at the time of when we released our lesson would of beat the average annual return of the stock market by 20%, 3 times as fast. The it took a few hours to complete the research to predict that adidas was overvalued and we will soon be releasing more accurate and more in depth strategies.

Aswath Damodoran has weighed in on the Deutsche Bank debacle. For those who are not familiar with him, he is a very prominent NYU Finance professor and author of over 30 books on corporate finance and valuation - and a man whom I respect greatly. As a matter of fact, I cut my teeth on his valuation books early on in my valuation pursuits. That being said, I'm in disagreement with his valuation of DB shares on his blog. On said blog, he went through a quick history of DB's situation and then put together an open sourced model where he found DB to be at least 35% undervalued. The other users of the open sourced model have come to an average price that's even higher.

I value DB (using Aswath's model, not our own) at a dramatically lower price than everyone on that list, save one. Why the difference? Well, if you remember my videos on knowledge...

Aswath's model inputs err in several ways from our perspective.

They take the reporting of DB at face value. After wading through the notes in the financial statements, that does seem like a good idea. They need to be forensically scrubbed!

The assume the issues that have received a lot of media attention are the only issues that endanger DB. Again, that doesn't seem like a value assumption. Reference the raising capital video below.

The coming dearth of affordable capital is also not being adequately addressed.

Knowledge subscribers of any level can email me at reggie AT veritaseum.com to get a copy of Aswath's model with a few of my assumptions and comments in it. Feel free to leave your own comments as well.

Here's What A Real, Live Veritaseum 5x Short DB Smart Contract Looks Like to Our Research Subscribers

If you haven't heard, we're giving out free, fully smart contracts as a 5% rebate to anyone who purchases any of our research packages above the introductory novice $50 level. This is not your Daddy's rebate! The rebate actually gets larger as DB goes down in price. For those who may be coming late to the party, we can offer a 5x long gold (or even a long gold, short DB) smart contract rebate as well. Of course, the bulk of our research targets banks and entities other than DB, but I thought we'd make DB the subject of the rebate to drive the point home. Below is an actual contract crafted off of the price of a single share of DB for about 2 weeks.

The research and knowledge subscription module "European Bank Contagion Assessment, Forensic Analysis & Valuation" contains a full report of a very large European Deutsche Bank counterparty that faces a full 27% downside from current levels. It appears as if no one suspects a clue. It also contains much, much more (including at least 3 to 5 suspect banks). We can break this apart a la carte, if requested.

I noticed that most in the financial community are going out of their way to demonstrate that Deutsche Bank is not a Lehman 2.0. They are probably right, its most likely a Deutsche 1.0! Mohammed El-Arian has penned an article in Blloomberg, which I'll excerpt as follows:

Yes, there are questions about the bank's balance sheets, including the complicated valuations of "level 3" assets. But Deutsche Bank's sources of funding are much more diversified and its balance sheet is significantly more robust that Lehman's ever was. Also unlike Lehman, Deutsche Bank has access to emergency funding at a central bank, in this case, the European Central Bank.

The greatest portion of DB's funding comes from it's depositor base. The funding is also the most transient, literally being able to be called away at a moments notice. This is not dooming and glooming either. There's a very credible reason why depositors would (and probably should) pull their money out of DB, and that is a total lack of adequate compensation for the risks assumed. This video explains it all, and you can even reference the spreadsheet here to run your own numbers.

One of the causes of this inability of DB to properly compensate its investors for the risks that it entails is the synthetic manipulation of rates by the ECB and their NIRP policy, and its actually getting much worse. You can even quote Bloomberg - Negative-Yielding Bonds Jump to Almost $12 Trillion. I've written a lot about a depositor and counterparty-led run at DB:

And it has internal means of generating capital (including through asset disposals and even a rights issue), even though the more such methods are used, the less attractive they are to management and existing shareholders. Moreover, given its accumulated litigation reserves, the pressures would also lessen if, as was hinted at in some news reports at the end of last week, the bank reached a settlement with the U.S. Justice Department that required it to pay far less than the original fine of $14 billion.

The environment is quite different, too. Deutsche Bank is not part of a growing storm making its way through the global financial system. Although some European banks remain fragile, others around the world have notably strengthened their capital cushions, are deploying more prudent liquidity-management approaches, and have made significant progress in cleaning up their liabilities. Importantly in terms of systemic effects, this is particularly the case for U.S. banks.

Yes, Mr. El Arian, but those very same banks are standing as counterparties to these troubled banks of size. As a matter of fact, they are the hedges for the troubled banks - a direct means of contagion. The European banks have not cleaned up their liabilities in the form that most people would be led to believe. They purchased financially engineered instruments to shift the "economic risk" off balance sheet and onto someone else's, or at least that's what they would have one to believe. They are not selling off bad assets, they are writing CDS and TRS on top of them. This only works when the other side pays up. This will not happen if everyone requested payment at the same time, as was the case with AIG, MBIA and Ambac 9 years ago. There's a very big difference between selling and asset and buying a contract that says you are getting protection to the downside of an asset, particularly if you are buying said contract from someone who is in a very similar industry and situation that you are in. Correlation risk! Speaking of correlation and risk... European Banks Cutting 20,000 Jobs as ING Joins Commerzbank

Here's What A Real, Live Veritaseum 5x Short DB Smart Contract Looks Like to Our Research Subscribers

If you haven't heard, we're giving out free, fully smart contracts as a 5% rebate to anyone who purchases any of our research packages above the introductory novice $50 level. This is not your Daddy's rebate! The rebate actually gets larger as DB goes down in price. For those who may be coming late to the party, we can offer a 5x long gold (or even a long gold, short DB) smart contract rebate as well. Of course, the bulk of our research targets banks and entities other than DB, but I thought we'd make DB the subject of the rebate to drive the point home. Below is an actual contract crafted off of the price of a single share of DB for about 2 weeks.

The research and knowledge subscription module "European Bank Contagion Assessment, Forensic Analysis & Valuation" contains a full report of a very large European Deutsche Bank counterparty that faces a full 27% downside from current levels. It appears as if no one suspects a clue. It also contains much, much more (including at least 3 to 5 suspect banks). We can break this apart a la carte, if requested.

Deutsche Bank AG Chief Executive Officer John Cryan rushed to shore up confidence in his beleaguered lender after concern some clients are reducing exposure to the company pushed shares to record lows.

The bank’s balance sheet is safer than at any point in the past two decades, Cryan told staff in a memo Friday. “Trust is the foundation of banking. Some forces in the markets are currently trying to damage this trust,” he said

This is more than just trust, it's common sense. I am in no way trying to undermine trust, but I am all if on the truth. On April 14 2015 I penned "Fu$k the Fundamentals!": Negative Rates In EU Will Absolutely Wreck the Very System the ECB Sought to Save. I have been warning Veritaseum users about the unbridled risks the ECB is taking with its banking system by slamming its yield curve - driving short and medium term rates negative. Yes, the ECB needs to get much more blame than those who are asking investors to use common sense. The extremely low rate that DB pays its investors comes nowhere near the risk they are asking said investors to take. To wit, let's explore what the talking heads on Bloomberg had to say:

Analysts also came to the bank’s defense. Stuart Graham at Autonomous Research LLP wrote that Deutsche Bank has enough readily available funds on hand to weather more than two months of severe stress, including trading clients pulling back. Goldman Sachs Group Inc. analysts led by Jernej Omahen said the lender can also access backstops from the European Central Bank.

“Deutsche has many problems, but liquidity is not one of them,” Graham said in a note. “There can be no doubt that Deutsche could access significant additional liquidity from the ECB, should it ever need it.”

Just the mere discussion being had above tells us this far from a risk-free investment for depositors. If it has the risk, even the alleged lower risks being claimed above, why should investors settle for a mere .05%. That's right, .05%

For those who many not remember, DB is domiciled in a bail-in regime state, hence... In case of bankruptcy or risk of bankruptcy of a banking institution, the saver is at risk of losing their savings or may be subject to a reduction / conversion into shares (bail-in) of the amount of the claim that he has the financial setting on top of the amount covered by the double German guarantee scheme for deposits.

Now, what would it look like if one wanted to be compensated for said risk? Deutsche Bank is essentially a high yield (junk) play that only pays .05%.

If you are going to take risks with a junk company, you might as well get compensated for it. The PIMCO high yield, short duration bond fund (HYS) has arguable a superior risk profile, and pays 93x more. That's right, it pays 9,300% more than Deutsche, for arguably less risk of absolute loss, albeit materially greater risk of price volatility. So, which would one rather, an 80% chance of losing some of your money or a 5% chance of losing nearly all of your money? Hmmm....

Here's the disclaimer for the trust: Units of the Trust are not deposits of any bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. It's a new day when the disclaiming that units are NOT deposits of a bank can be taken as a net positive, no?

Anybody even remotely skilled in 3rd grade arithmetic can discern that the risks of dealing with DB are no where concomitant with the meager returns it is offering, even if at the behest of the ECB.

Now, the discussion above has actually centered around depositors, for they are the largest and most stable (if not the potentially most fleeting) funding source for the bank. But there are also counterparties and clients of its prime brokerage services, to wit:

The funds, a small subset of the more than 800 clients in the bank’s hedge fund business, have shifted part of their listed derivatives holdings to other firms this week, according to an internal bank document seen by Bloomberg News. Among them are Izzy Englander’s $34 billion Millennium Partners, Chris Rokos’s $4 billion Rokos Capital Management, and the $14 billion Capula Investment Management, said a person with knowledge of the situation who declined to be identified talking about confidential client matters.

“The issue here is now one of confidence,” said Chris Wheeler, a financial analyst with Atlantic Equities LLP in London. “That’s what’s going on here. The thinking is ‘Deutsche Bank is fine, but there’s a slim chance it might not be, so why leave my money in there?’”

Here's my DB warning from 11 and half months ago...

Our next article will continue to hammer home the likelihood that DB will have to recapitalize, and where they probably WONT'T be getting the money from, as well as the likelihood it will come from someone who really didn't plan on giving it up (Ahem, depositors/savers/checking account holders). For those who are not yet convinced, peruse these related items...

Here's What A Real, Live Veritaseum 5x Short DB Smart Contract Looks Like to Our Research Subscribers

If you haven't heard, we're giving out free, fully smart contracts as a 5% rebate to anyone who purchases any of our research packages above the introductory novice $50 level. This is not your Daddy's rebate! The rebate actually gets larger as DB goes down in price. For those who may be coming late to the party, we can offer a 5x long gold (or even a long gold, short DB) smart contract rebate as well. Of course, the bulk of our research targets banks and entities other than DB, but I thought we'd make DB the subject of the rebate to drive the point home. Below is an actual contract crafted off of the price of a single share of DB for about 2 weeks.

The research and knowledge subscription module "European Bank Contagion Assessment, Forensic Analysis & Valuation" contains a full report of a very large European Deutsche Bank counterparty that faces a full 27% downside from current levels. It appears as if no one suspects a clue. It also contains much, much more (including at least 3 to 5 suspect banks). We can break this apart a la carte, if requested.

Following up on Deutsche Bank as Ground Zero?, I'd like to focus on the deteriorating credit metrics at Germany's largest bank. To be absolutely honest, an educatied consumer is the at odds with the bank's other stakeholders in this situation. Educated consumers, particularly those seeking safe, secure bank accounts and lending faciilities should be moving out of Deutshe bank right now. DB is far from safe and secure, particularly in relation to other destiniations. Remember, bank bail-ins are EU law now. European regulatory authorities can force these failing institutions to cancel or severely dilute shareholder equity or to cancel, write-down or convert unsecured liabilities to equity. Such regulatory action is referred to as a “bail-in.” Bank depositors (checking, savings, demand accounts) are investors as well, in the form of unsecured creditors.

Most depositors still don't realize this (despite Icelandic bank depositors getting smashed). Depositors are the largest, one of the cheapest, and currently the most stable form of bank financing.

... Below is a chart excerpted from our most recent work showing the asset/liability funding mismatch of a bank detailed within the report. The actual name of the bank is not at issue here. What is at issue is what situation this bank has found itself in and why it is in said situation after both Lehman and Bear Stearns collapsed from the EXACT SAME PROBLEM!

... The problem then is the same as the European problem now, leveraging up to buy assets that have dropped precipitously in value and then lying about it until you cannot lie anymore. You see, the lies work on everybody but your counterparties - who actually want to see cash!

... The modern central banking system has proven resilient enough to fortify banks against depositor runs, as was recently exemplified in the recent depositor runs on UK, Irish, Portuguese and Greek banks – most of which received relatively little fanfare. Where the risk truly lies in today’s fiat/fractional reserve banking system is the run on counterparties. Today’s global fractional reserve bank get’s more financing from institutional counterparties than any other source save its short term depositors. In cases of the perception of extreme risk, these counterparties are prone to pull funding are request overcollateralization for said funding. This is what precipitated the collapse of Bear Stearns and Lehman Brothers, the pulling of liquidity by skittish counterparties, and the excessive capital/collateralization calls by other counterparties. Keep in mind that as some counterparties and/or depositors pull liquidity, covenants are tripped that often demand additional capital/collateral/ liquidity be put up by the remaining counterparties, thus daisy-chaining into a modern day run on the bank!

The research and knowledge subscription module "European Bank Contagion Assessment, Forensic Analysis & Valuation" contains a full report of a very large European Deustche Bank counterparty that faces a full 27% downside from current levels. It appears as if no one suspects a clue. It also contains much, much more (including at least 3 to 5 suspect banks). We can break this apart a la carte, if requested.

Wells Fargo was recently fined $185 million for opening over a million fake accounts and credit cards. This got a lot of attention in the media. It is our assention that Deustche Bank's situation is far more worthy of attention.